The government is set to use next year's expected budget of around 670 trillion won in beefing up national defense and public order and creating jobs for young people.

The Cabinet on Tuesday finalized and announced guidelines on the 2024 budget allocation.

Vice finance minister Choi Sang-dae unveiled plans to invest heavily in job creation and welfare as well as the execution of state's basic functions, referring to defense, public order and judicial and administrative services.

In defense, next year's budget will be mainly spent on advancing weapon systems in response to North Korea's growing nuclear and missile threat as well as raising soldiers' wages.

In public safety, the government will expand related equipment to prevent and tackle drug crimes and step up response capabilities against real estate and phishing scams as well as stalking and digital sex crimes.

In welfare, instead of cash payouts, more tailored services will be provided for the socially vulnerable.